HB Wealth Management LLC Acquires 26,348 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• HB Wealth Management LLC increased its stake in Philip Morris International Inc. by 40.2%, holding 91,961 shares valued at approximately $14.60 million.
• The company recently reported an earnings per share (EPS) of $1.91, exceeding estimates, while revenue for the quarter was $10.14 billion, showing a 7.1% increase compared to the previous year.
• Philip Morris International announced a quarterly dividend of $1.35 per share, representing an annualized dividend yield of 3.36%.

HB Wealth Management LLC boosted its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 40.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,961 shares of the company's stock after acquiring an additional 26,348 shares during the period. HB Wealth Management LLC's holdings in Philip Morris International were worth $14,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. 49 Wealth Management LLC raised its stake in Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after purchasing an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO raised its stake in Philip Morris International by 704.0% in the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after purchasing an additional 125,171 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Philip Morris International by 24.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after purchasing an additional 87,631 shares during the period. SpringVest Wealth Management LLC bought a new position in shares of Philip Morris International in the first quarter worth $253,000. Finally, SFE Investment Counsel bought a new position in shares of Philip Morris International in the first quarter worth $327,000. Institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

PM has been the topic of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a research report on Wednesday, July 23rd. Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Jefferies Financial Group began coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price on the stock. Bank of America lifted their target price on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, UBS Group lifted their target price on Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Trading Up 0.1%

PM stock traded up $0.23 during trading on Wednesday, hitting $162.98. The company had a trading volume of 3,538,028 shares, compared to its average volume of 6,110,008. The business has a 50-day moving average of $178.32 and a 200-day moving average of $160.97. Philip Morris International Inc. has a one year low of $113.15 and a one year high of $186.69. The stock has a market cap of $253.69 billion, a PE ratio of 30.98, a PEG ratio of 2.30 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 10.57%. The firm had revenue of $10.14 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the prior year, the business earned $1.59 EPS. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio is currently 102.66%.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.